GLOBAL MARKETS: Speaking yesterday before the EU Parliament Committee on Economic and Monetary Affairs, ECB President Mario Draghi noted that more time is needed for the Central Bank “to determine in particular whether the loss of growth momentum in emerging markets is of a temporary or permanent nature”, suggesting that any further monetary policy stimulus is unlikely to take place in the imminent future. Against this background, long-dated German bonds weakened while the EUR moved higher. Focus today is on FOMC Chair Janet Yellen who is due to speak on “Inflation Dynamics and Monetary Policy”.

GREECE: The Euro Working Group (EWG) convenes today ahead of the upcoming Eurogroup scheduled for October 5 to reportedly discuss, among others, the prior actions that need to be fulfilled by the Greek side for the release of the outstanding €3bn sub-tranche of the first loan disbursement./ Addressing the EU Parliament Committee on Economic and Monetary Affairs yesterday, ECB President Mario Draghi said that key preconditions for the ECB to consider the reintroduction of a Greek collateral waiver, is Greece to comply with the financial assistance programme “throughout several governments” and demonstrate strong programme execution and ownership while the Central Bank also needs to assess debt sustainability.